TS Today - Creating a Vision for the Future of Vacation Ownership Issue #142, Jul/Aug 2015 | Page 22

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Page 22

always recommend that our boards verify
this with legal counsel. The relocation process only affects a very small minority of
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the shutdown) and because the replacement
week is considered an upgrade, we seldom
encounter any pushback.
The due process involves picking up
the phone and having one-on-one conversations. After that, the biggest challenge is a
lot of deed preparation and keeping everything organized. Thus far, the process has
not required any special vote, owner meetings, or hefty legal fees.
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his/her usage history. A majority of this minority typically are frequent exchangers, so

when we demonstrate that the replacement
will have a higher exchange value, reluctance usually vanishes.
Surrender: Lastly, some owners use
the opportunity to surrender ownership—
another option that boards can allow. For
example, at a Cape Cod resort, we created
an eight-week shutdown period (the two
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six weeks of the year). It affected 208 owners in good standing, of which 186 chose
an alternate interval and just 22 decided to
relinquish ownership.

Staff Notes
Clearly, payroll must factor into the
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Jul/Aug, 2015

concern. The reality is that decisions about
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during a closure. The building must be
protected, someone must be available to
answer the phone, maintenance must be
performed, etc.
Also, a shutdown period is an optimal
time to perform major projects, interior
painting, and renovations. For this reason,
the general manager and key personnel are
generally exempt from furlough, though
some may use the opportunity to take a
well-deserved vacation.
For those employees who will be laid
off, unemployment compensation is available, but it typically does not replace full
wages. The board should consider continu-

Plan Ahead to Winterize your Resort
With summer just around the corner,
now is the time to plan for Old Man Winter
to visit your tim \